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A deep dive into the World Bank’s investigation process

Multinational companies often spend most of their attention on enforcement actions for fraud and corruption by the U.S. Department of Justice, but the World Bank is a major player in the anti-corruption global arena that should not be ignored.

During a recent session at Compliance Week 2017, enforcement officials with the World Bank offered some much-needed insight on how the World Bank’s investigation process works and how companies doing business overseas can reduce the risk of being sanctioned or debarred.

For compliance practitioners wondering how to mitigate the risk of a World Bank investigation, companies should first identify whether the contract is funded by the World Bank. Such information can be found within the contract itself, referencing the company’s obligation to abide by World Bank procurement guidelines. “It’s all over the bidding documents,” said Paul Haynes, lead investigator at the World Bank. “It’s all over the contracts.”